Home Sales Experience Strong Start // San Antonio Area Market Report January 2019

After a year marked by continual increases in home sales figures, January carried that momentum into the new year with a two percent increase year-over-year in total home sales, for a total of 1,788 homes sold according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. The average price of a home in January also saw a two percent increase from last year to $249,477 while the median rose three percent to $217,200. Months of inventory edged up slightly to 3.4 months in January following the 3.2 months reported in December and the

month ended with 2,255 sales still pending.

“Typically, most markets see a dip in home sales during the winter months,” said Grant Lopez, SABOR’s 2019 Chairman of the Board. “San Antonio is a very livable city year around, attracts new talent and it’s a place where many want to retire. It’s no wonder why we continue to see marked increases in home sales.”

In January, 43 percent of the homes sold were priced under $199,000 while another 52 percent were those priced between $200,000 and $499,000. The remaining five percent of homes sold were priced over $500,000.

In Bexar County, home sales increased 2.4 percent from last year for a total of 1,341 homes sold with an average sales price of $239,836, a three percent increase from 2018. Months of inventory remained low at 3.0 months available and the price per square foot increased 5.6 percent to $114.

In Texas, total sales in January decreased five percent to 16,834. However, the average price rose 2.9 percent to $268,424 and the median increased 2.1 percent to $222,565. The state reported 3.4 months of inventory available.

“Even with the increase in home prices, San Antonio is more affordable than other metro areas around Texas,” said Gilbert S. Gonzalez, SABOR’s President and CEO. “This affordability allows homebuyers to live in a major metro area and still obtain their dream of homeownership.”. (Source: SABOR Monthly Report)

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